Drive Shack (DSHK) 8-K Other Events

Exhibit 99.3

SELECTED FINANCIAL INFORMATION

The financial statements of Newcastle Investment Corp. (the “Company”) for the periods ended on and prior to June 30, 2014 that have been previously filed by the Company are presented without giving effect to the reverse stock split approved by the Company’s board of directors on August 6, 2014. As a result of the reverse stock split, the Company is presenting selected financial data for the Company, which reflects the effect of the 3-for-1 reverse common stock split, for (i) the three and six months ended June 30, 2014 and 2013, (ii) the three months ended March 31, 2014 and 2013, and (iii) the years ended December 31, 2013, 2012, 2011, 2010 and 2009.

The selected financial information should be read in conjunction with the Company’s consolidated financial statements and the notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q for these periods.

	(in thousands, except per share data)
	Year Ended December 31,
	2013			2012			2011			2010			2009
Interest income	$	213,715		$	282,951		$	291,036		$	300,272		$	361,866
Interest expense		89,382			109,924			138,035			172,219			218,410
Net interest income		124,333			173,027			153,001			128,053			143,456
Impairment (Reversal)		(19,769	)		(5,664	)		1,110			(240,858	)		548,540
Net interest income (loss) after impairment		144,102			178,691			151,891			368,911			(405,084	)
Operating revenues		87,323			20,075			1,899			1,708			1,547
Other income		35,301			262,294			180,495			282,287			227,399
Expenses		152,990			66,118			30,327			30,901			33,099
Income (loss) from continuing operations before income taxes		113,736			394,942			303,958			622,005			(209,237	)
Income tax expense		1,038			—			—			—			—
Income (loss) from continuing operations		112,698			394,942			303,958			622,005			(209,237	)
Preferred dividends		(5,580	)		(5,580	)		(5,580	)		(7,453	)		(13,501	)
Excess of carrying amount of exchanged preferred stock over fair value of consideration paid		—			—			—			43,043			—
Net income attributable to noncontrolling interests		(928	)		—			—			—			—
Income (loss) from continuing operations, after preferred dividends, excess of carrying amount of exchanged preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest:	$	106,190		$	389,362		$	298,378		$	657,595		$	(222,738	)
Income (loss) from continuing operations per share of common stock, after preferred dividends, excess of carrying of exchange preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest.
Basic	$	1.15		$	8.10		$	10.92		$	32.91		$	(12.64	)
Diluted	$	1.12		$	8.01		$	10.92		$	32.91		$	(12.64	)
Weighted average number of shares of common stock outstanding giving effect to the 3-to-1 reverse stock spilt
Basic		92,294			48,049			27,328			19,983			17,621
Diluted		94,437			48,589			27,330			19,983			17,621
Dividends declared per share of common stock	$	1.77		$	2.52		$	1.20			—			—
Total Assets	$	4,852,563		$	3,945,312		$	3,651,799		$	3,687,111		$	3,514,628
Total Long-term liabilities	$	3,017,931		$	2,781,761		$	3,419,013		$	3,922,672		$	5,147,348

	(in thousands, except per share data)
	Three months ended March 31						Three months ended June 30						Six months ended June 30
	2014			2013			2014			2013			2014			2013
Interest income	$	46,452		$	61,332		$	29,893		$	62,824		$	76,345		$	124,156
Interest expense		35,855			22,710			33,905			21,998			69,760			44,708
Net interest income		10,597			38,622			(4,012	)		40,826			6,585			79,448
Impairment (Reversal)		1,246			2,773			1,526			3,201			2,772			5,974
Net interest income (loss) after impairment		9,351			35,849			(5,538	)		37,625			3,813			73,474
Other revenues		121,629			13,500			143,646			14,013			265,275			27,513
Other income		15,806			5,770			41,685			8,090			57,491			13,860
Expenses		136,563			27,254			146,812			31,586			283,375			58,840
Income (loss) from continuing operations before income taxes		10,223			27,865			32,981			28,142			43,204			56,007
Income tax expense		295			—			540			—			835			—
Income (loss) from continuing operations		9,928			27,865			32,441			28,142			42,369			56,007
Preferred dividends		(1,395	)		(1,395	)		(1,395	)		(1,395	)		(2,790	)		(2,790	)
Net loss attributable to noncontrolling interests		661			—			29			—			690			—
Income (loss) from continuing operations, after preferred dividends, excess of carrying amount of exchanged preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest	$	9,194		$	26,470		$	31,075		$	26,747		$	40,269		$	53,217
Income (loss) from continuing operations per share of common stock, after preferred dividends, excess of carrying of exchange preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest.
Basic	$	0.08		$	0.34		$	0.27		$	0.31		$	0.34		$	0.65
Diluted	$	0.08		$	0.33		$	0.26		$	0.30		$	0.33		$	0.63
Weighted average number of shares of common stock outstanding:
Basic		117,151			78,379			117,199			86,409			117,175			82,416
Diluted		121,022			80,026			120,954			88,465			120,988			84,269
Dividends declared per share of common stock	$	0.30		$	0.66		$	0.30		$	0.51		$	0.60		$	1.17
Total Assets	$	3,520,609		$	5,196,003		$	3,264,004		$	2,845,334		$	3,264,004		$	2,845,334
Total Long-term liabilities	$	2,407,218		$	3,267,363		$	2,166,522		$	1,917,657		$	2,166,522		$	1,917,657